Hong Kong · Delayed Price · Currency is HKD Vitasoy International Holdings Earnings Call Transcripts
Fiscal Year 2026
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Revenue declined 3% year-over-year to HKD 6.1 billion, but operating profit rose 18% due to asset disposal gains and cost management. Chinese Mainland and Hong Kong faced weak demand, while Australia and Singapore improved profitability. Dividend for the year was HKD 0.175 per share.
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Revenue fell 6% to HKD 3.2 billion due to weak demand in China, but EPS rose 2% and profit to shareholders increased 1% on lower costs. Australia and Singapore improved results, while Hong Kong maintained strong market share. Interim dividend of HKD 0.04 per share recommended.
Fiscal Year 2025
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Revenue grew 1% year-over-year with operating profit nearly doubling, led by strong gains in mainland China and Hong Kong. New product launches and marketing campaigns supported growth, while cost efficiencies and improved margins boosted profitability.
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Revenue grew 2% to HKD 3.4 billion with operating profit up 50%, led by strong gains in Mainland China and Hong Kong. Gross margin improved to 51.6%, and the interim dividend was set at HKD 4 per share. Deflationary pressures and manufacturing issues in Australia were key challenges.
Fiscal Year 2024
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FY24 revenue rose 1% excluding currency, while operating profit increased 78% and attributable profit rose 155%. Mainland China and Hong Kong drove improvement; Australia/New Zealand and Singapore faced supply and cost challenges.
Fiscal Year 2023
Fiscal Year 2021
Fiscal Year 2020
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FY revenue fell 4% to HKD 7.2bn and profit to shareholders fell 23%, with H2 hit by COVID-19 and other disruptions. Market shares grew in Mainland China and Hong Kong; management expects a gradual recovery while controlling costs and investment.
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H1 revenue grew 5% in HKD and 9% excluding FX, while profit to shareholders rose 3% and 7%, respectively. Mainland China led growth; drought-related supply and cost pressures weighed on Australia, with impacts expected to continue in H2.
Fiscal Year 2018
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FY18 revenue rose 21% to HK$6.5bn and profit to shareholders increased 14%, with Mainland China leading growth. FY19 growth is expected to moderate but remain solid as brand and infrastructure investment increases.
Fiscal Year 2017
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FY2017 sales declined 3% to HKD 5.4bn after the VUSA divestiture, but grew 6% excluding it; underlying shareholder profit rose 2%. Mainland China and Australia/New Zealand led growth, while FY2017-18 investment and rising commodity costs shaped the outlook.
Fiscal Year 2016
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FY15/16 revenue grew 10% and adjusted attributable profit rose 24%, supported by core-market momentum and favorable costs. Following the U.S. tofu divestiture and major capacity investments, management prioritized sustainable growth amid softer markets, competition and less favorable future commodity trends.
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H1 sales rose 14% and attributable profit 40%, led by mainland China growth and improved margins. Higher investment and North American operating challenges remain key concerns.
Fiscal Year 2015
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FY2014/15 sales rose 12% to HKD 5.1bn, with shareholder profit up 21%; Mainland China led growth. Capacity investment doubled to HKD 530m, while FX weighed on reported overseas results and US tofu remained challenged.
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H1 sales rose 17% and attributable profit 22%, led by China and Hong Kong. Capacity investment accelerated, while North American mainstream and Singapore export tofu remained pressured.
Fiscal Year 2014
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H1 sales and profit grew across markets, with turnover up 9% and gross margin improving to 48%. Higher commodity costs, currency pressure and a U.S. H1 loss tempered results, while China grew 21%.
Fiscal Year 2013
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FY2012/13 turnover rose 9% to HKD 4.1bn, with EBITDA up 12% and attributable profit up 8%. FY2013/14 was expected to be challenging, with growth efforts focused on innovation, distribution, and cost efficiency.